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Sinking Funds Explained: How To Save Money For Big Expenses | 23
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If you’ve ever had months where it seems like every piper has come to be paid, this is the tool for you! Sinking funds will help you to alleviate those months where it seems like the property taxes are due and two birthdays are coming up and for some reason it’s also the month Amazon Prime renews. Gross! Saving money is something everyone wants to do! But how? Bank accounts, cash envelopes, emergency funds, between the mattress? We've got you covered!
In this episode we cover:
✔️ What a sinking fund is
✔️ Why you need a sinking fund
✔️ Examples of FUN sinking funds (saving for vacation)
✔️ Examples of regular ol’ adulting sinking funds (car maintenance)
✔️ How to brainstorm, plan and budget your unique savings goals with sinking funds Where to put your money when you’re saving it whether you’re new or disciplined with budgeting.
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